Marc Nemenoff
PRICE Futures Group
Financials: Dec. Bonds are currently 8 higher at 137’14, 10 Yr. Notes 3 higher at 124’18.5 and 5 Yr. Notes 2.5 higher at 118’06.5. Weekly Jobless claims were up 11,000 to 315,000, somewhat more than the 300,000 the trade had expected. The yield on the 10 Yr. Note remains in the 2.5% area, slightly lower than the 2.53% level seen 2 day’s ago. The market will be watching this level closely to see if it can be maintained in the face of further quantitative easing in Europe. The long June2015/short June 2017 Eurodollar spread is currently at 199 premium the June 2015 and made a high of 200.5 yesterday. I recommend taking profits if you are still in this position.
Grains: Dec. Corn is currently 2’4 lower at 343’4, Nov. Beans 3’2 lowerv at 990’4 and Dec. Wheat 2’6 lower at 517’0. We are currently on the sidelines awaiting the Crop Reports later this morning.
Cattle: Oct. LC are currently 100 lower at 158.70 and Oct. FC 122 lower at 225.90. We are currently long the Oct. LC 148.00 put, which was purchased at 22 points. My objective is 70-80 points. If you went long Jan./short Nov. FC in the 625 area premium the Nov., take profits below 590 (currently at 602).
Silver: Dec. Silver is currently 12 cents lower at 18.80 after making new lows at 18.645. We remain long and now looking for opportunities to add.
S&P's: Dec. S&P’s are currently 10.00 lower at 1985.50. We remain short and have lowered our buy stop to 2004.00. If the market trades below 1982.00, lower your stop to the 1997.00 area or take profits.
Currencies: We have covered our short Euro positions and will remain on the sidelines until next week.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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